International Breweries Plc Records N1.9 Billion In Q1 2022

International Breweries Plc (IBPLC) has recorded N1.9 billion Profit Before Tax (PBT) in Q1 2022 which ended March 31, 2022, reflecting an increase of 152.8 percent from N3.6 billion loss before tax in Q1 2022.

According to the financial statement released to the Nigerian Exchange Limited (NGX), the company’s revenue grew to N52.7 billion during the period, representing a 47.6 percent increase compared to N38.96 billion reported in Q1, 2021.

Speaking on the profit, Managing Director, IBPLC, Hugo Dias Rocha, said: “Based on a consistent commercial strategy, we are growing ahead of our industry.

"We have continued our journey to profitability, which translates to strong results. We remain committed to creating value for our stakeholders consistently.

“Building on top of the momentum of a strong 2021, our business started 2022 on a positive note.

"On the back of firm consumer demand for our brands, robust revenue management, and volume growth ahead of the industry, our revenue grew by nearly 50 percent in Q1 2022. We saw consistent growth across all our portfolios.

“Keeping focus on profitability, we have enabled our high-end company brands to grow healthy in the market.

"Our global brand, Budweiser, and our newest innovation, Trophy Extra Special Stout are on a growth path as part of the high-end growth of above 40 percent."